Natural rubber in the international market
showed a mixed trend because of uncertainty over demand from China, Thai rubber
intervention plan, which is scheduled to start from 22nd March and
lean production season in major natural rubber producing countries. Natural rubber
supply in Thailand is expected to fall as rubber trees will stop producing
latex during the dry season.
There is an indication that China's auto
sales this year may not be able to reach 5% growth because of the difficult
macroeconomic situation, which in turn will dampen auto demand. China Rubber
Industry Association (CRIA) has urged government authorities to call off
customs duties for imported rubber to protect domestic tyre industry.
Natural rubber in the Indian market continued
to rise. Today, RSS4 grade closed at `198 a kg at Kottayam
and RSS3 grade closed at `199.45 from `200.52 a kg at
Bangkok. In futures, the April series were trading at `200.32,
May at `204.99, June at `208.40, July at `207.54,
August at `205.98 and September at `204 a kg on NMCE. The
March futures for the grade closed at ¥314, April at ¥315.2, May at ¥319.7,
June at ¥324.5, July at ¥328.5 and August at ¥332.4 on the Tokyo Commodity
Exchange.
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